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From the following Balance Sheet of Sujata and Swati, Calculate interest on capital @ 5% p.a. for the year ended 31st March 2024:

Liabilities Assets
Sujata’s Capital

Swati’s Capital

Workmen Compensation Reserve

9,0000

8,0000

4,0000

Sundry Assets

 

 

21,0000

 

 

21,0000 21,0000

During the year, drawings of Sujata and Swati were ₹ 1,000 and ₹ 3,000 respectively. Profit during the year was ₹ 6,000.

Workmen Compensation Reserve was set aside during the year ended 31st March 2024.

Anurag Pathak Changed status to publish April 22, 2024
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